COMMERCIAL LOAN PROCESSOR/CLOSER

810 SEVEN SEVENTEEN CREDIT UNION INC•Warren, OH

3d•Onsite

About The Position

This role is responsible for managing the loan closing process for commercial loans. This includes ordering and obtaining all necessary third-party services and information from members, ensuring all conditions for closing are met, preparing loan documents, coordinating closings, and tracking post-closing exceptions. The position also involves maintaining pipeline tracking, assisting with audits, and ensuring compliance with regulations and credit union procedures. Occasional travel to vendors or business customers may be required.

Requirements

High school diploma or equivalent.
At least 3 years of experience processing, underwriting, closing, or servicing commercial loans.
Excellent communication skills and ability to deal with others in a friendly, courteous, and efficient manner.
Strong experience and knowledge of various reports and documentation relevant to commercial lending, business entities, loan closings, lien perfection, and loan monitoring.
Thorough understanding of payment transactions, loan amortizations, new loan processing requirements, portfolio maintenance, and error correction.
Demonstrated accuracy and attention to detail in a fast-paced environment.
Proficient in Microsoft Excel and Word software.
Proficient knowledge of commercial loan structures, including loan participations, lien perfection, regulatory compliance, and document management.
Customer service attitude and skills, including a team player attitude, commitment, patience, enthusiasm, creativity, listening, comprehension, initiative, cooperation, attention to detail, and resourcefulness.
Professionalism, including confidence, good judgment, appropriate demeanor and appearance, and ability to interact with employees and members.
Skills in problem-solving, decision-making, time management, interpersonal communications, and organization.
Ability to maintain extensive contact with applicants and members and conduct relationships professionally.
Must be accurate and thorough in processing loans.

Nice To Haves

None listed.

Responsibilities

Order and obtain all third-party services and information needed from members for loan closing, including appraisals, title work, flood certificates, insurance, and environmental reports.
Ensure all required information is organized in the loan file, such as the commercial application, credit memo, appraisal, and title reports.
Follow the clear-to-close process to ensure commercial loans are closed timely and in accordance with the credit approval memorandum.
Review approvals and verify conditions are satisfied by obtaining required information and verifying data.
Keep all parties informed of the file status, pending items, and timelines for outstanding items.
Prepare loan documents using document preparation software or by coordinating with outside counsel.
Ensure all documents have appropriate signature blocks for business entities and that beneficial ownership information is completed.
Create a full loan package including the note, loan agreement, resolutions, guarantees, security agreement, mortgage, assignment of rents, and disbursement authorization.
Review title commitments and settlement statements, resolve exceptions, and ensure credit union fees are appropriately listed.
Coordinate loan closings with title companies, borrowers, and loan officers.
Provide funding instructions to the Commercial Loan Administrator.
Ensure liens are perfected by verifying recording of mortgages and assignments, filing UCCs, and listing the credit union as lienholder on titled collateral.
Track and resolve post-closing exceptions.
Maintain pipeline tracking and exception logs.
Back up other Commercial Loan Operations positions.
Assist with regulatory and external audits and exams.
Keep job processes and procedures up to date.
Stay informed of changes in the regulatory environment to ensure compliance.
Respond to inquiries from auditors and regulatory agencies.
Perform all duties in compliance with Federal and State regulations, 7 17 Board policies, and departmental and credit union procedures.